Thursday, 23 June 2011

BUSINESS CORRESPONDENTS ENGAGED BY SBI


AN EXHAUSTIVE REPORT ON BUSINESS CORRESPONDENTS ENGAGED BY STATE BANK OF INDIA

We being the speaker of the Business Correspondents engaged by State Bank of India, hereby report the grievances / hardships / hindrances faced by them in regard to conducting kiosk banking.

1.     The prospect customers coming even from rural area want to open joint account with their kith and kins while there is no provision in the present software. Resultantly, some of them are not interested to open accounts, which result a loss primarily to B.Cs. and ultimately to Bank. This provision may be made henceforth.

2.     At the time of opening account, if some erroneous feeding has been made, how it will be corrected and who will correct it. Please advise accordingly.

3.     As per Bank instructions which are prevalent at other branches of SBI, any minor aged 10 years old can open a SB A/c and operate it, but in the present Kiosk Banking system, it is not possible in case of minor less than 18 years old. Thus, many students studying in high school or intermediate colleges expecting their scholarships have been made incapable to open account in the Kiosk Banking system.

4.     Issuance of pass book has not been allowed in the present Kiosk Banking System as per RBO Officers verbal instructions. The prospect customers of villages have no faith and do not rely on the Kiosk Banking System. They raise many questions about this and logics as to why other branches of SBI are issuing pass book and here it is not so.
While in the Kiosk Banking, there is an option to choose whether, the nominee’s name will appear on the pass book or not. It reveals that there is a provision of issuing pass book to the customers. Please arrange to this facility so as we can issue pass books to them.
                                               
5.     Stationery viz. account opening forms, etc. are not being supplied by RBO sufficiently. For it, we have to make a run often to RBO causing loss of money, time and toil. The officers at RBO say that they would be able to supply the forms etc. as and when it will be made available by LHO and they also advise us to use the photocopy of account opening forms. This perchance is not as per Bank’s instant instructions and also it costs / affects our revenue.

6.     B.Cs. settlement account (current account) and Commission account (Savings Bank Account) balance enquiry may be made visible to us. Because for this purpose, we will have to go to our link branch often, this is a hindrance in our working.

7.     Balance enquiry of Kiosk Accounts and Non-kiosk accounts (without finger print) may be made available in the Kiosk Banking software, because –

a)      In case of cash deposit at Kiosk Banking Point, into   Non-kiosk accounts, no balance appears in the deposit slip generated by Kiosk and only amount deposited reflects there, while the customer wants to know / see / confirm the balance of the account in which amount has been deposited. Moreover, we are also not sure whether the amount has been deposited or not.

b)      In case of Kiosk accounts- If a person deposits any amount from other branch to kiosk accounts, and wants to confirm telephonically or inditingly, we are at loss to tell him the correct balance / position. This provision may be made for kiosk banking in the interest of public as well as us and the Bank. Otherwise, in case of the amount being astrayed, legal problems may arise in future.





8.     At-least to computers connected with each one (networking)-

The prospect customers visit to the CSP at the same time for account opening, cash deposit / withdrawal etc. In such a position, only one type of transaction i.e. either account opening or deposit / withdrawal / balance enquiry is possible, resulting a heavy crowd. This will forfeit the motive of the kiosk banking.        This can be avoided by connecting two computers working simultaneously. This provision may be made.
    
9.     Cash remittance in current account is not made possible in kiosk banking at present. Please get it rectified at the appropriate level.

10.                        Training/ circular instructions etc.-
Training regarding kiosk banking may be provided to the B.Cs. so that any type of errors and omissions can be avoided. The circulars instructions issued by Bank may be provided to B.Cs. directly by way of email etc. to avoid delay. However, no circular instructions are being provided to us on a regular basis. The provision thereof will ultimately be in the interest of Bank.

11.                        The Branches as well as RBO are not co-operating us to the level to which they are expected. The link branches take a lot of time e.g. 10 to 30 days to authorize opening of accounts created by the CSPs.We propose that we should be linked to such a channel who immediately take up our matters. Their names, address, phone and email address may be made available to us.

12.                        Insurance of cash holding amount and cash in-transit amount may be arranged at Bank level because the officials of companies under General Insurance Company advise us that there is no provision of insurance of cash handling conducted by individuals. This is necessary to be done by Bank and required fees for insurance may be recovered from us if applicable.





COMMISSION / EXPENSES AVAILABLE TO /           INCURRED BY BUSINESS CORRESPONDENTS

     Here we illustrate the commission admissible to B.Cs. as per extant instructions and expenses incurred by them.

A)   Monthly income / Commission admissible to B.Cs

Current instructions by SBI     Commission-        2000/- p.m.
A/c maintenance @ o.50 paisa per account

Per month supposing 2000 accounts
Maintained                                                 -        1000/- p.m.

Annual mtce. Due to limit on customers              
Account arrives at equal to                         -        nil
                                      TOTAL               =       3000/- P.M.

B)  MONTHLY EXPENSES INCURRED BY B.CS.

Room rent                                                   -        1000/- p.m.
Electricity                                                   -        1000/- p.m.
Internet Broad band BSNL rent                  -        3300/- p.m.
Stationery / printing                                    -        1000/- p.m.
Employee (Substitute min. one)                  -        3600/- p.m.
(@ Minimum MNREGA)
Sweeper part time                                      -        1500/- p.m.
Depreciation on assets **                           -        2350/- p.m.
Interest on fund / cash invested ***            -        790/- p.m.
                                                                                                                                                                                       __________
          TOTAL                                            -        15490/- p.m.
                                                                            



** Furniture /counter/table etc. -       70000/-
Wiring                                     -        10000/-
Computer/printer/web cam     -        31000/-
Finger print scanner                -        2600/-
Fans 2                                      -        2000/-
Inverter / battery                      -        25000/-
                                                          ________
                                                          1, 40,600/-
                                                          ________
**Depreciation @ 20%                        2350/-                                                                                            ________
*** Cash deposit in C.A.         -        50,000/-
       Cash in hand                     -        50,000/-
                                                          ________
                                                        1, 00,000/-
                                                          ________
***Interest on above @ 9.5%            790/- p.m.
                                                          ________




LOSS SUFFERED BY B.C. AS PER ABOVE (A – B) =
Rs. 12490/- p.m.

In the above illustration the expenses have been shown at the lowest while the remuneration of B.C. has not been taken into account. This begets a heavy loss to B.C. and resultantly they will have to shut down their outlets. Moreover, in the case of new entrants also, they will face the same financial hurdle and they also will not succeed. There is no remedy except for increasing the commission to a level taking in view the above facts so that this may get success and Bank may also earn revenue from it.

In addition, the Bank and B.Cs. have entered into an agreement in which reasonable commission bases on deposits and withdrawals was devised which was 0.5%, but later the Bank has revised the commission and capped the ceilings of balances etc. resulting the B.C.s to starve. This is felt by B.C.s as a deceit. At this stage while they have invested about 200000/- it is not possible to get rid of such activity.

The above suggestions are from the grass root level from the B.Cs and customers and are ultimately in the interest of Bank.
Hence, it may be taken up sympathetically and rationally.

With best wishes
Yours faithfully
Chairman- B.C. ASSOCIATION

contact us : association.bc232@gmail.com

20 comments:

  1. i m narender garg working with lic as a ZM club members from last 11 yrs with a premium collection centre. I want to become business facilitators or business correspondent of sbi.my cell no. is 09416096157 please guide me.

    ReplyDelete
  2. Mr Narendra, u should contact to your nearest 'Regional Business Office' i.e. regional office of State Bank of India, wherefrom u can collect the necessary application forms etc. for further proceedings.

    ReplyDelete
  3. I M ARVIND KUMAR WORKING SBI BC JASWANTNAGAR BRANCH.I M CONTECT U PLZ GUIDE ME.

    ReplyDelete
  4. sir, presently i am running a PAN CARD Service Center and now i want to work as a sbi BC. please help me. my contact details is hchhetri34@gmail.com, 09851516505, 08293416757, 03532488029.

    ReplyDelete
  5. I want support from my BC friends so if any BC friend can help me please. i will heartly thankful to them.

    ReplyDelete
    Replies
    1. hai brother i am also a SBI BC in andhrapradesh ,how is ur BC point.plz call me cell:
      VEERAPRASAD- 9000880840
      BHASKRA REDDY- 9491590689

      Delete
  6. DEAR ALL,

    THERE IS MMD (MASTER MOBILE DISTRIBUTORSHIP)OPPORTUNITY IN YOUR STATE.
    BECOME MMD IS YOUR STATE AND MAKE MOBILE RECHARGE DISTRIBUTOR & AGENTS UNDER YOU AND EARN MORE THAN 2,00,000 /- PER MONH.
    MORE DETAILS CONTACT TO OUR EXPERT : MR.NILESH 9594497948

    ReplyDelete
  7. sir
    i m working with sbi as a business facilitator 4 last 3 year in rishikesh(dehradun). now i want to b a business corrpodent plz help me regarding this.
    my cell no. is 09760255325 & mail id is 84guptamohit@gmail.com.

    ReplyDelete
  8. Chairman- B.C. ASSOCIATION

    sir please give me your contact number

    ReplyDelete
  9. Sir I am working with AISECT CSC center at Vill Abhana Post Abhana Block Damoh Dist Damoh (M.P.) i want SBI BC (kiosk Bank) at Vill Abhana i have allready apply 5 to 10 times but i have not received any result. So plz. give me SBI BC (Kiosk Bank)

    Thanks

    From
    NEELESH JAIN
    AISECT CSC CENTER
    VILL ABHANA POST ABHANA
    BLOCK DAMOH DIST DAMOH
    (M.P.)
    MOB. 8085828898 PH. 07812214337,214325

    ReplyDelete
  10. sar.
    i am arif khan working with sbi my csp point vill-nawada po-sraitarin disth-muradabad (u.p) csp code -10372642 plz cont no-chairman B.C ASSOCIATION .

    ReplyDelete
  11. dear all,

    I am soumesh from odisha and I want to be a Bc/Bf of sbi kiosk.Anybody having any knowledge please provide details. my no is 09437379867 and mail id is sdaspattanaik@yahoo.com.

    ReplyDelete
  12. i am muneer ansari mai bc ke bare me janana chata hoo address;salempu saini po-nandlalpur p.s. -kahalgaon dist- bhagalpur bihar mo. no.07549371399,9504931135

    ReplyDelete
  13. Dear sir,
    Am srikanth from Nizamabad dist, Andhrapradesh state. Just few days back i heard about this SBI BC,SBI CSC and SBI KIOSK... Now I would like start SBI KIOSK banking in our dist town (i.e, In Nizamabad). so kindly provide me the complete contact details to my mail ID.

    Email: chakatisrikanth@gmail.com
    ph: 9666614442.

    ReplyDelete
  14. Name:Mukesh Singha
    Village:Udaipur, P:O:Nandapur Chariali
    District:Nagaon,Assam
    Pin:782435
    Mobile No:08723841283
    Email:Singhanikesh99@gmail.com
    Sir,
    main SBI CSP Khulna Chahata Hu,Plz details batadijiye

    ReplyDelete
  15. Dear Sir,
    My name is shadab alam I have compleated hardware networking cource i am intrested your sbi kishok banking
    mohalla chaksha hussain gali no-03 post gorakhnath district-gorakhpur pin code-273015 mobile no-08924819041 email-alamshadabgkp@gmail.com give me detail sir please

    ReplyDelete
  16. i am k b ghosh sbi bc (individual). i want to know what is our commission rate ?

    ReplyDelete
  17. i am sbi bc (individual). i want to know when we are facing any problem than no body can help us. please give me any contruct number or address for help us.

    ReplyDelete
  18. respected sir,
    while I perform the following works some massage comes in the screen which I can not understand / Translate like debiting of an a/c, balance enquirer etc. The type of massages is mentioned below. For which I am to perform an entry second time when the massage comes. Please help / advice in this regards. So that the work can run smoothly.

    ReplyDelete
  19. Sir,
    My self Nikhil Dhandre actually I want to open CSP SBI. I surch about it but i cont get proper information about how to apply for it. Please tell me procedure to apply for it.

    Remark:
    Nikhil M. Dhandare
    Armori, Gadchiroli MH
    9096919955
    nik.digitronik@live.com
    Nik.digitronik@gmail

    ReplyDelete